29th Oct - US "Close": Hold On

Stay sharp. Stay relaxed. There's something going on somewhere, all the time. In New York, the storm will pass. Others will come. We will stay. 

Previously on MoreLiver’s:

29-Oct US "Open"

29-Oct EU Open

28-Oct Weekender: Off-Topic & In Finnish

28-Oct Weekender: Trading & Economics

28-Oct Weekender: Europe, US, Asia

27-Oct Credit Guest: When causation implies correlation.

27-Oct Vaalit - äänestä!

27-Oct Weekender: Weekly Support

26-Oct Weekender: Best of The Week

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Roundups and Commentary

News – Between The Hedges

The Closer – alphaville / FT

Roundup: Greek tax evaders 1, whistleblower journalist 0 – Kiron Sarkar / The Big Picture

Fixed Income Overview – TF Market Advisors

Tomorrow’s Tape: Strictly Speaking, There is No Tape – WSJ

European Summary: Europe Closes Red For 7th Day Of Last 8 (Shortly) – ZH

Reference

TV: Bloomberg, CNBC, BBC

Debt crisis: live – The Telegraph

The Euro Crisis Blog – WSJ

Tracking Europe’s Debt Crisis – NYT

FX Options Analytics – Saxo Bank

European 10yr Yields and Spreads – MTS indices

Economic Calendar – Forexpros

 

EUROPE

If it is to survive, the eurozone can no longer hold private creditors as sacrosanct above taxpayers, and must crack down on the fiscal black hole of the EU’s tax havens – europp / LSE

 

‘Two plus two equals four, even at the Bank of England’ – alphaville / FT

Credit Suisse’s answer last week to the (rather odd) idea of the British government “cancelling” (restructuring) the gilts held by its central bank under quantitative easing…

Sweden and the SEK – Relative macro and rates drives EUR/SEK – Nordea (pdf)

or read the summary

How Would Portugal Have Fared in the Past Decade Under the Debt Rule? – EconoMonitor

Portugal would at least have met the crisis with a more solid initial debt position had the rule been in place.

  EUROPE: CDS PRICES DOWN

Chart of the week: Funding costs are coming down – Bruegel

The EC can claim "success" in CDS regulation – Sober Look

Visualizing The Death Of The European Sovereign Credit Market – ZH

  EUROPE: SPAIN

Europe's Crisis Spawns Calls for a Breakup—of Spain – WSJ

What is Rajoy Waiting For ? Some Thoughts – Marc to Market 

About that Spanish bad bank... – Open Europe

Soy Sareb – alphaville / FT

The Spanish Bad Bank Emerges, Confirms Real Estate Absolute Disaster – ZH

Full presentation on Spain’s new bad bank, e.g. haircuts of 80% on foreclosed land

  EUROPE: GREECE

Greece must have debt relief, leaders to tell Angela Merkel – The Telegraph

A delegation of leaders are to warn Angela Merkel that Germany must agree to Greek debt relief or risk plunging the eurozone into a fresh and more dangerous phase of the crisis.

Germany Supports ECB Greek Debt Buyback Plan, Rejects Write-off – BB

Merkel’s government said it is willing to consider a European Central Bank proposal for a buyback of Greek debt, as it stepped up opposition to imposing more losses on Greece’s creditors.

Putting a new drachma in historical perspective – alphaville / FT

Revising the Greek bailout: Two more years of extend and pretend? – Open Europe

UNITED STATES

Earnings and Revenue Beat Rates – Bespoke

Percentage of companies that have beaten earnings and revenue estimates during each earnings season going back to 2001.  As shown, 60.7% of companies have beaten earnings estimates so far this season

An Earnings Early Warning System – The Reformed Broker

With 153 S&P500 members having reported thus far, we are observing earnings and revenue miss rates that are approaching levels last seen during the September 2008 quarter.  We continue to execute our hedging strategy to protect capital during unfavorable earnings environments.

  SANDY

East Coast Braces as Sandy Strengthens – WSJ

Superstorm Sandy intensifying, bringing record storm surges – Wunderground

The Cold Math of Hurricane Sandy – MarketBeat / WSJ

How Hurricane Sandy Could Help Obama – big think

  SANDY: MARKETS

U.S. Stock and Options Markets to Remain Closed Tuesday – MarketBeat / WSJ

Jobs Report May Be Delayed Due to Hurricane Sandy – MarketBeat / WSJ

A Timeline of Previous Market Shutdowns – MarketBeat / WSJ

Markets Hub: Forex Trading Slowed, But Not Stopped, by Sandy – MarketBeat / WSJ

Markets Hub: How Trading Firms Prepped for Sandy – MarketBeat / WSJ
Some Fed Speakers to Cancel – Real Time Economics / WSJ

  SANDY: ECONOMY

Early estimates of Sandy’s economic impact – alphaville / FT
Gauging Disaster’s Toll on an Economy – Economix / NYT

Asessing Hurricane Sandy’s Impact on GDP Growth – Real Time Economics / WSJ

Citi On The Retail Sales Impact Of Hurricane Sandy – ZH

ASIA

Expectations management at the BoJ – alphaville / FT

Wen Jiabao’s Riches and Political Reform in China – The Diplomat

OTHER 
Daily collection – HistorySquared

Current Account Reversals and Crises; Currencies amid Empire Declines; China Private Debt Growth

 

How Central Bank Policy Impacts Asset Prices 

SocGen's charts and comments.

Part 1: Equities – ZH

Part 2: Bonds – ZH

Part 3: FX – ZH

Part 4: Commodities – ZH

IN FINNISH

"Useat maat eivät ymmärrä, että ovat menettäneet suvereniteettinsa" – TalSa

Euroopan keskuspankin pääjohtaja Mario Draghi sanoo saksalaislehti Der Spiegelin haastattelussa, että euromaat voivat saada suvereniteettiaan takaisin syventämällä integraatiota. Hänen mukaansa useat maat eivät ymmärrä, että ne ovat menettäneet suvereniteettinsa kauan sitten.

Euroryhmällä ylimääräinen kokous ensi viikolla – TalSa

uroalueen valtiovarainministereiden euroryhmä pitää ylimääräisen kokouksen torstaina 8. marraskuuta, euroryhmää johtava Luxemburgin pääministeri Jean-Claude Juncker sanoo.

Työttömyys pelottaa hieman – euroetana

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